Voya Financial Advisors has reached a $22.92 million settlement with the Securities and Exchange Commission.
The Des Moines, Iowa–based investment company allegedly made misleading statements regarding investment advice it provided to clients about mutual funds, illiquid alternative investments and cash sweep vehicles.
The firm’s violations of antifraud provisions and the compliance rule of the Investment Advisers Act of 1940 occurred from January 2013 until December 2018.
To read the order, click here.
